Company Background

LG Electronics is a core company of South Korean conglomerate LG group, alongside LG Chem. Founded in 1958, LG Electronics has led the country's electronics industry since its early days as the first producer of radios, TVs and other appliances. Now, it is the second-largest electronics maker after Samsung Electronics.

Although LG Electronics lags far behind Samsung in semiconductors and smartphones, the two companies are in close competition in areas such as TVs, washing machines and refrigerators, at home and abroad. Headhunting and patent infringement suits are also common between the two companies. LG Electronics is known for its more laid-back work atmosphere compared to Samsung, which requires its employees to deliver results in a short time.

Its affiliated companies, such as LG Display and LG Innotek, produce liquid crystal display panels and electronic parts. Amid increased competition with its Chinese rivals in consumer products, LG Electronics aims to boost sales of electronic parts outside the group. It has, for example, set up a division specializing in research and development and supply to automakers.

Koo Bon-joon, vice chairman of LG Electronics, is the brother of LG Corp. chairman Koo Bon-moo, and the grandson of Koo In-hwoi, the company founder. He cannot ignore his brother when making important management decisions.

Business Summary

LG Electronics, Inc. engages in the manufacturing of display devices, home appliances, multimedia goods, electronic parts and develops software. It operates through the following business areas: Home Entertainment, Mobile Communications, Home Appliance, Air-Conditioning, Energy Solution and Independent business area. The Home Entertainment business area provides products such as televisions, monitors, personal computers for IT, Car Infotainment and produces Chemical and Electronic Materials. The Mobile Communications business area offers products such as handsets and tablets. The Home Appliance business area provides products such as refrigerators, washing machines, cooking and cleaning and health care appliances. The Air Conditioning and Energy Solution business area manufactures products such as Light Emitting Diode (LED) lightings, residential and system air conditioners. The Independent business area provides products such as compressors, storage devices, PC, telematics and solar cells. The company was founded by In-Hwoi Koo on Oct 1, 1958 and is headquartered in Seoul, South Korea.